Debt Negotiation | Hailstone Legal Group

The local economy was already contributing to financial struggles for many citizens in recent years, and with the pandemic of COVID-19, a recovery could take many years to materialize. As a result, many individuals are struggling with paying debts through no fault of their own. If you are being overwhelmed by mountains of debt, you need to understand that you are not alone.

If you are feeling up against the wall due to your debts, it may be difficult to imagine that there are effective solutions that can give you a fresh start. It is time to stop worrying and take action because the crisis will not get better on its own. Our reliable debt negotiation team is here to help and will work hard to find the right option for you to feel safe and secure with your financial future.

How Debt Negotiation Works

Debt negotiation is an approach that attempts to reduce your overall debt owed as well as change other terms of your original agreement to resolve your obligations to your creditors. A successful debt negotiation could mean that a settlement is reached where your outstanding debt balance is significantly lower than the current amount owed.

Unlike credit counseling or debt consolidation where you must pay back the full balance on your debts, the debt negotiation process can make a huge difference in how soon you pay off your balance when the principal amount is reduced.

The first step to a successful settlement starts with proof of your financial hardship. This will help us to explain to creditors why you have been unable to make your current monthly payments and why they should agree to new terms.

We will then work with you to fully understand your situation and financial circumstances to determine an amount you can reasonably manage. Once agreed, we then work to negotiate on your behalf with the creditor. Every creditor is different, but our extensive experience and industry knowledge has enabled us to become deeply familiar with many creditors and know what strategies will work best with them.

About Hailstone Legal Group

Although creditors have no legal responsibility to negotiate and enter into a new settlement agreement on a debt or unsecured loan, they also understand that they are often able to recover more through debt negotiations than the other alternatives available to them such as a lawsuit or working with a collection’s agency.

By working with Hailstone Legal Group, you also send a strong signal to your creditors that you are serious about resolving your debt. Because we are a full-service debt relief firm, your creditors will also know that all options are on the table.